Mixed-Use Property with
For Sale
$2,250,000
694 Merrimack Street, Lowell, MA 01854
Combined retail and residential layout with documented compliance materials on file.
Property Size8,664 SF
Days on Market48
Property Features for 694 Merrimack Street
General Information
Standard status
Active
Size
8,664 SF
Total Parking Spaces
2
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$8,131
Building Details
Building Size
8,664 SF
Year Built
1890
Listing Agency:
Keller Williams Realty-Merrimack
Listed By:
The Espinola Group · License #2013009293
(404) 689-4408
Source:
Classifiedrealtygroup
Added: Aug 20
Changed: Sep 28
Last Checked: Oct 5 at 3:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty-Merrimack
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial storefront space with residential units in a nine-unit configuration. The building includes two retail storefronts and seven residential units, creating a blend of commercial and residential occupancy within one asset. Letters of Compliance are on file.
Constructed in 1890, the property is located at 694 Merrimack Street in Lowell, Massachusetts, with a 01854 ZIP code. Its defined retail and residential components provide a clear mixed-use format for ownership and management.
Constructed in 1890, the property is located at 694 Merrimack Street in Lowell, Massachusetts, with a 01854 ZIP code. Its defined retail and residential components provide a clear mixed-use format for ownership and management.
Key Highlights
- Nine total units: two retail storefronts and seven residential units
- Mixed‑use configuration with commercial and residential components
- Letters of Compliance are on file
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,553
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,091,060
$3.1M
Cap Rate 7%
$2,207,900
$2.2M
Cap Rate 9%
$1,717,256
$1.7M
Market Conditions
NOI Build-Up for 8,664 SF
Gross rent
$301.5K $34.80/SF
− Vacancy
−$20.5K −$2.37/SF
EGI
$281.0K $32.43/SF
− OpEx
−$126.5K −$14.60/SF
NOI
$154.6K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,091,060
Cap Rate 7%
$2,207,900
Cap Rate 9%
$1,717,256
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,553 @ 7.0% cap · market cap 6.87%
Second Best
Mixed Use
$2.05M
$1.79M – $2.39M
NOI $143,476 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,459 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined retail and residential layout with documented compliance materials on file.
Where is this mixed-use property located?
The property is located at 694 Merrimack Street Lowell, MA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Nine total units: two retail storefronts and seven residential units; Mixed‑use configuration with commercial and residential components; Letters of Compliance are on file
